Hi I have been doing bank to bank TT but the fees are really high. Any ideas on ways to save money transfer fees, perhaps forex or is there any services that do this for less money than banks, and western union?

Thank you in advance.

Really depends on:

-- How much your bank charges for a wire transfer, my U.S. banks range from $30-$45.

-- How often you want to do this.

-- Same with ATM fees, the local baht 180 charge doesn't "hurt" too much for a baht 30,000 withdrawal.

Mac

David48 explained a nifty way to get around this issue. I can't remember but forex was used.

Could be worth asking him.

Paypal.

Allow me to carry it for you.

Paypal.

PayPal Pro: Low Direct fees which is all some folks notice.

PayPal Con: Low exchange rate that more than makes up the low fee...PayPal smiling all the way to the bank with its low exchange rate which is basically an indirect fee.

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Paypal.

Please tell me you are joking.

I've gone through paypal explanations many times. Can't remember now, but I think the cost was roughly 7% of your total transactions. THE WORST EVER.

TT is about 1% or more for transfers of 300,000

And personal cheques is cheapest at less than 0.4% at 300,000 if I remember correctly. BUT it takes a month or so.

Where are you transfering money from? If from the U S and you have a U S account then look at Bangkok Bank. Very low transfers fees

do it once a yr.that way you can watch the tt rate,then do an express trans.when its in your favour.

It would help if we knew where you are transferring money from.

The USA differs somewhat, for example, to UK and Europe.

http://www.bangkokbank.com/bangkokbank/personalbanking/dailybanking/transferingfunds/transferringintothailand/receivingfundsfromusa/pages/receivingfundsfromusa.aspx

Seemless and efficient.

How about MoneyGram?

Where are you transfering money from? If from the U S and you have a U S account then look at Bangkok Bank. Very low transfers fees

Agree and also for transferring from U.K. and H.K. Change the money into Thai Baht when it arrives in Bangkok Bank as it offers a far better exchange rate than if you buy baht before making the transfer. I have been doing this for years.

How about MoneyGram?

High fees. Bad deal.

How about MoneyGram?

Easy enough to find out...just go to their website. Below shows a $1000 transfer...please note the direct fee "and low exchange rate based on amount of baht received." Looks like MoneyGram is in competition with PayPal and Western Union for the most total fees either via direct or indirect fees (indirect fee is the low exchange rate).

I have always used Paypal

Western Union is the best. They charge no fees if you send from bank to bank from overseas to here. The only 'fee' is the less exchange rate. This still beats PayPal(the worst) money gram and bank transfers

Thanks guys, I over heard a conversation in which this guy was using a FX agent. There are no fees involved and you buy the the thai baht at the current spot price. this is like a trading account for spot currency. This is what I am hoping to find.

I am getting funds from Canada.

Thank you

I just deposit money in my account in Malta then go to scb bank here with my visa debit card and tell them I want to withdraw money from this Visa card and place in my account with scb my wife holds. I only get charged 3 euros and 0.33% per transaction from the Maltese bank. Thai banks do not charge me anything. This is the easiest and best way I have found. Sometimes different branches refuse to swipe the card and tell me to use their ATM. I just go to another branch as from the ATM I get charged 180 baht + 3euros + 0.33% for every 20000 baht withdrawn.

I have a savings account with the Bangkok Bank Pattaya when I transfer cash from the UK I give them my bank debit card , passport ( for copy ) and my Bangkok savings book and they transfer for me within 10 mins my last transaction was 250,000 baht and no charge. from the UK or Thailand and withdrawals from ATM " FREE ".

Check it out and save money

Ps not all thai banks do it !

I transfer money frequently from Australia and UK. I have found it is very important to transfer the money in the local currency so that it gets converted to Baht in Thailand. I use Bangkok bank. Be aware some overseas banks will convert to baht before they send it even though it has been ordered in the local currency. (Australia) and it takes a great deal of pulling strings to overcome this. I discovered this when I opened an Australian dollar account at Bangkok Bank and found that the money was converted baht before it was deposited. Having the overseas currency account here in Thailand means that you can look at the exchange rate and transfer immediately when you like it.

Western Union is cheap and untraceable.

I transfer money frequently from Australia and UK. I have found it is very important to transfer the money in the local currency so that it gets converted to Baht in Thailand. I use Bangkok bank. Be aware some overseas banks will convert to baht before they send it even though it has been ordered in the local currency. (Australia) and it takes a great deal of pulling strings to overcome this. I discovered this when I opened an Australian dollar account at Bangkok Bank and found that the money was converted baht before it was deposited. Having the overseas currency account here in Thailand means that you can look at the exchange rate and transfer immediately when you like it.

Please note i use internet banking always.

I have a savings account with the Bangkok Bank Pattaya when I transfer cash from the UK I give them my bank debit card , passport ( for copy ) and my Bangkok savings book and they transfer for me within 10 mins my last transaction was 250,000 baht and no charge. from the UK or Thailand and withdrawals from ATM " FREE ".

Check it out and save money

Ps not all thai banks do it !

and the exchange rate?

I use ukforex the only charge 7-00 pounds per transfer. send an email to Melonie Triffet [email protected], she will set it up for you regards David Dyson

have a look at www.HiFx.com depend on amount you send no charge..

In my opinion no charges doesn't mean a lot. It is the exchange rate that can cost the most.

Thanks guys, I over heard a conversation in which this guy was using a FX agent. There are no fees involved and you buy the the thai baht at the current spot price. this is like a trading account for spot currency. This is what I am hoping to find.

I am getting funds from Canada.

Thank you

One time over THB 25000, use TTransfer.

Many times, with THB 25000 limit per day, use Bank card in a Thai ATM. Small fee is worth good management per day.

I use www.ozforex.com.au to transfer money every month. A fee of $15 & a far better exchange rate than the banks. I put a USA friend onto them . He was paying very high fees & a lousy exchange rate. He told me he is getting approx. another $50 of thai BHT. There system is user friendly & problem free. Good Luck.

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Thanks guys, I over heard a conversation in which this guy was using a FX agent. There are no fees involved and you buy the the thai baht at the current spot price. this is like a trading account for spot currency. This is what I am hoping to find.

I am getting funds from Canada.

Thank you

I transfer my funds from Canada, monthly by CIBC personal cheques. How much are you transferring? We could probably work something out.